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Burger Straddle Script

  • #421
  • Apr 26, 2007 7:28pm Apr 26, 2007 7:28pm
So what settings are people thinking for the US GDP tomorrow?

There is a chance I won't be at my computer during news time unfortunately. I was thinking something along the lines of the following

Distances: 12
SL: 20
TP: 5
Max Spread: 10


Any thoughts/comments always appreciated.
I came, I saw, I conquered [your pips]. -- Julius Caesar
  • #422
  • Apr 26, 2007 8:12pm Apr 26, 2007 8:12pm
With a slew of releases happening at the same time (6:30 pm central time)
There has got to be some movement this time around. Set up the script with a distance of all 8's, stop loss of 30, Take profit of 30.
The USD/JPY really had some movement at the news time Jumped up, Fell back, then back up again just in time for the spread to go back to normal (IBFX), Walked away with pocketing $48 when I closed it manually.
Another good day....no losses.
  • #423
  • Apr 26, 2007 10:04pm Apr 26, 2007 10:04pm
For tomorrow's GDP, I'm thinking 10 distance, 20 pip TP and no stop loss. If I wasn't up and around to watch the computer, I would put in 30 SL, no trailing stops.
  • #424
  • Apr 26, 2007 10:29pm Apr 26, 2007 10:29pm
A great piece of art!! Thanks Burgerking....
  • #425
  • Apr 27, 2007 12:40am Apr 27, 2007 12:40am
Quoting drobledo
Hello ASEN,

What are the parameters you are using to set an leave ? Very Good results (+49).
Hi drobledo,

sorry I was out of town for few days, just back. Because I use North Finance, I set my distance 10/10/10 and max spread 10. I set SL 10, TP 10 and TS 0. Actually the straddle should close the first trade with +10, but the North Finance reject my TP. So their is no TP, when I come back and see my position is still open, I close it manually immediately and get +39 . On the second trade, straddle TP not rejected so close with +10.

Thanks

Happy trading all, Hope you all also made pips
  • #426
  • Apr 27, 2007 1:32am Apr 27, 2007 1:32am

Can someone let me know does this script follow the news. i assume it does. I do i have to program the times in? ( i have it set to default settings)

I have the comments on the screen + (waiting for order) at the bottom. The clock is also up and running

And the Burger Forex factory calender is on screen with nothing written under it. Do i need to load anything else up to get it to run?

Just want to get it straight exactly what is supposed to do. Open trades on either side of the market 1 min before the next news announcement? then close them out if they arent hit?
[IMG]file:///C:/DOCUME%7E1/mark/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]
[IMG]file:///C:/DOCUME%7E1/mark/LOCALS%7E1/Temp/moz-screenshot-1.jpg[/IMG][IMG]file:///C:/DOCUME%7E1/mark/LOCALS%7E1/Temp/moz-screenshot-2.jpg[/IMG]

  • #427
  • Apr 27, 2007 8:47am Apr 27, 2007 8:47am
Quoting mgtoeasy

Can someone let me know does this script follow the news. i assume it does. I do i have to program the times in? ( i have it set to default settings)



I have the comments on the screen + (waiting for order) at the bottom. The clock is also up and running


And the Burger Forex factory calender is on screen with nothing written under it. Do i need to load anything else up to get it to run?


Just want to get it straight exactly what is supposed to do. Open trades on either side of the market 1 min before the next news announcement? then close them out if they arent hit?
[IMG]file:///C:/DOCUME%7E1/mark/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]

[IMG]file:///C:/DOCUME%7E1/mark/LOCALS%7E1/Temp/moz-screenshot-1.jpg[/IMG][IMG]file:///C:/DOCUME%7E1/mark/LOCALS%7E1/Temp/moz-screenshot-2.jpg[/IMG]

Go back to the 1st post on this thread and make sure you have the latest version...READ the 1st post. It will explain that you will need to enter the time of the news event into the script and set you own straddle distance, TP and SL settings.

This mornings US GDP...
I set it up to Trade 8 pips distance, 30 pip SL, 50 pip TP. 5 lots.
After the widened E/U spread around ..10 (IBFX) + my 8 pip distance. I was triggered long. I manually closed it out at the end of the 1st 5 min candle with +16 pips. That was an easy $80.
  • #428
  • Apr 27, 2007 10:06am Apr 27, 2007 10:06am
Quoting jimbo61
This mornings US GDP...
I set it up to Trade 8 pips distance, 30 pip SL, 50 pip TP. 5 lots.
After the widened E/U spread around ..10 (IBFX) + my 8 pip distance. I was triggered long. I manually closed it out at the end of the 1st 5 min candle with +16 pips. That was an easy $80.

I ended up changing my settings from what I originally thought I'd use on the GDP yesterday. I was looking at the wrong set of charts yesterday when I tried to determine my settings. haha, whoops.

I set my distances to 10/10/10, 25 SL, 10 TP, MaxSpread 12. My TP was hit during the second minute if I remember correctly (yay!).

I was lucky with that TP though. Apparently my clock was off AGAIN. This time by about 15 seconds. Arrrgh. I think I may have to try that atomic clock program that someone mentioned a handful of posts ago.
I came, I saw, I conquered [your pips]. -- Julius Caesar
  • #429
  • Apr 27, 2007 11:37am Apr 27, 2007 11:37am
Quoting Quick
I ended up changing my settings from what I originally thought I'd use on the GDP yesterday. I was looking at the wrong set of charts yesterday when I tried to determine my settings. haha, whoops.

I set my distances to 10/10/10, 25 SL, 10 TP, MaxSpread 12. My TP was hit during the second minute if I remember correctly (yay!).

I was lucky with that TP though. Apparently my clock was off AGAIN. This time by about 15 seconds. Arrrgh. I think I may have to try that atomic clock program that someone mentioned a handful of posts ago.
Make sure to re sync your clock before you load the script.
You can also just sync it to the Market Watch clock on the MT4 platform. I keep it within 2-3 sec. This way the script time and the Computer time should be in sync.
  • #430
  • Apr 27, 2007 2:19pm Apr 27, 2007 2:19pm
Mine triggered also, with a TP of 20 pips. Good trade but... for some reason my orders had a 5 pip SL, which I did not put in. I had no SL specified. Strange
  • #431
  • Apr 27, 2007 5:39pm Apr 27, 2007 5:39pm
Quoting Quick
I ended up changing my settings from what I originally thought I'd use on the GDP yesterday. I was looking at the wrong set of charts yesterday when I tried to determine my settings. haha, whoops.

I set my distances to 10/10/10, 25 SL, 10 TP, MaxSpread 12. My TP was hit during the second minute if I remember correctly (yay!).

I was lucky with that TP though. Apparently my clock was off AGAIN. This time by about 15 seconds. Arrrgh. I think I may have to try that atomic clock program that someone mentioned a handful of posts ago.
That was probably me. Timing is crucial when BurgerStraddling news releases. Download the clock free from http://www.download.com/Atomic-Clock...-10061823.html

Burgerking, you have commented in this thread about the need for precise clock timings - it was one of these that prompted me to go looking for one. How about posting this link in your first posting in this thread?


  • #432
  • Apr 27, 2007 5:54pm Apr 27, 2007 5:54pm
Hi.

i can't make the "BURGER FOREX FACTORY CALENDAR" to work.

i load it to the chart and can see the gray head line - "BURGER FOREX FACTORY CALENDAR" in the upper right corner.

but that about it... no data...

can anyone help whit this indicator ?

tnx
  • #433
  • Apr 28, 2007 2:49am Apr 28, 2007 2:49am
Quoting niki
Hi.

i can't make the "BURGER FOREX FACTORY CALENDAR" to work.

i load it to the chart and can see the gray head line - "BURGER FOREX FACTORY CALENDAR" in the upper right corner.

but that about it... no data...

can anyone help whit this indicator ?

tnx

not sure, but noticed the same thing
  • #434
  • Apr 28, 2007 3:00am Apr 28, 2007 3:00am
thanks BK,

a piece of art I say.....used only on demo, and took only seconds to set up and was successful on the USD GDP last night.

Q's that others may be able to answer too...

1. After the script is attached and set on a chart, is there a way to modify the settings after a change of thought [eg. right click or something...?]...or do I have to remove and setup again with preferred settings.

2. Thoughts on slippage, is there any control for broker slippage [eg. max slippage pips] or has something flown straight by me that I missed ..?

thanks again BK...

regards et
  • #435
  • Apr 28, 2007 4:59am Apr 28, 2007 4:59am
Quoting etrader35
thanks BK,

a piece of art I say.....used only on demo, and took only seconds to set up and was successful on the USD GDP last night.

Q's that others may be able to answer too...

1. After the script is attached and set on a chart, is there a way to modify the settings after a change of thought [eg. right click or something...?]...or do I have to remove and setup again with preferred settings.
You have to remove and setup again.

I like to set the straddle a few hours in advance. I drag the script onto a chart, load in my preferred settings, alter the time and save the settings in case my trading platform gets unloaded, or the computer crashes.

  • #436
  • Edited 8:20am Apr 28, 2007 7:27am | Edited 8:20am
Quoting niki
Hi.

i can't make the "BURGER FOREX FACTORY CALENDAR" to work.

i load it to the chart and can see the gray head line - "BURGER FOREX FACTORY CALENDAR" in the upper right corner.

but that about it... no data...

can anyone help whit this indicator ?

tnx
I was wanting to further develop this piece; it has been weeks since I have posted it an only to date did I get people putting some inputs (bug reports) and all.

Anyways, found the bug. Please download latest version.
  • #437
  • Apr 28, 2007 10:05am Apr 28, 2007 10:05am
This script is indeed excellent. The only problem is, on many occassions, the deviation isn't large enough, and hence our buy/sell stop might just be touched, only for the price to quickly reverse, and thus getting stopped out. This has happened to me on a few occassions.

BK, how would you compare RSS / SNW alongside your script, because those softwares do take deviation into consideration.
  • #438
  • Apr 28, 2007 12:24pm Apr 28, 2007 12:24pm
Quoting turbo_electric
This script is indeed excellent. The only problem is, on many occassions, the deviation isn't large enough, and hence our buy/sell stop might just be touched, only for the price to quickly reverse, and thus getting stopped out. This has happened to me on a few occassions.

BK, how would you compare RSS / SNW alongside your script, because those softwares do take deviation into consideration.

I think its not really possible to compare them..
SNW/RSS are signal services who react on the news as they come..

BK`s awesome script is set before the news in hope of getting the news that move the market..it cannot define news which only deviate very small..or decide to catch the Retrace on the spike as it is impossible to prgram such..thats why we still stand man with man (woman of course) in the trading room

Maybe Artificial IntelligenceI is possible in future

BUT i can say that i use SNW to Filter NO TRADES (trades in which the deviation is too low to trigger any spike in price) and to learn about the coming news..

thats my 2cent i am still a beginner and cannote evualuate global news on my own...

PS: Please correct me if any of my assumtions are wrong
  • #439
  • Apr 29, 2007 12:37am Apr 29, 2007 12:37am
Turbo,

I've used the script in conjunction with the ManTp EA, it proven to be very effect. It has enabled me to lock profits in during quick reversals.
Attached File(s)
File Type: mq4 ManTPv2-4_3rdsl.mq4   6 KB | 715 downloads
  • #440
  • Apr 29, 2007 3:00am Apr 29, 2007 3:00am
Quoting SteveHopwood
You have to remove and setup again.

I like to set the straddle a few hours in advance. I drag the script onto a chart, load in my preferred settings, alter the time and save the settings in case my trading platform gets unloaded, or the computer crashes.

Ok, thanks Steve, makes sense....

just one thing...lets say the buy/sell orders have gone through to your broker and you are currently in a position and then your PC crashes. Does the brokers Server capture your Targets and Stop Losses once entered a position from the EA, or does the PC and MT4 have to get up and running with applicable EA pronto ??? Or failing that, get on the phone to control orders.

et
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